Gold In The Nevada Hills

With unemployment remaining high, it is nice to see some good news, especially in rural areas. A junior mining company is preparing to work on a mine that had great results prior to 2000, extracting around 200,000 ounces at that time.

Gryphon Gold is working on the Borealis open pit mine, in Mineral County Nevada, near Yerrington, Schurz and Hawthorne. Hawthorne currently has high unemployment and is around 16 miles from the mine.

Baret News says “Even though gold prices have risen substantially, making mines more profitable, a startup requires more cash to get through the initial registration minefield, a catch-22 situation”.

Gryphon Gold seems to have that under control. The Company has all the necessary permits in place to put a leach pad operation in with estimates of as much as 50,000 ounces per year production.  Once in place, Gryphon would rank 6th out of 12 gold producing mining companies in the state, when measured against State mine production statistics from 2009.

The Bureau of Labor Statistics reports that mining employment has been rising since a low in October last year, with an 8,000 increase in August. The mines are not only good for miners, but also for businesses that support the miners. 25% of the jobs went to miners, and 75% to supporting businesses.

See the story Junior Gold Miner Prepares To Open Pit of Gold

As long as gold prices remain high, the gold in the hills will have companies like Gryphon making the most of the opportunity.